Hsbc Holdings PLC Has $5.78 Million Stake in Lineage, Inc. $LINE

Key Points

• HSBC Holdings PLC increased its stake in Lineage by 47.9% in the first quarter, ending with 176,652 shares valued at about $5.78 million.
• Lineage reported EPS of $0.78 for the latest quarter, easily beating analyst estimates, while revenue came in at $1.30 billion, roughly in line with expectations.
• The company paid a quarterly dividend of $0.5325 per share, which annualizes to a yield of about 5.2%; analysts currently rate the stock Hold on average with a target price of $42.94.

Hsbc Holdings PLC lifted its position in Lineage, Inc. (NASDAQ:LINE - Free Report) by 47.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 176,652 shares of the company's stock after buying an additional 57,185 shares during the quarter. Hsbc Holdings PLC owned about 0.08% of Lineage worth $5,780,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the business. Resona Asset Management Co. Ltd. raised its holdings in shares of Lineage by 6.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 25,311 shares of the company's stock valued at $808,000 after purchasing an additional 1,488 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Lineage in the first quarter worth $2,009,000. Janney Montgomery Scott LLC bought a new stake in Lineage in the first quarter worth $497,000. Border to Coast Pensions Partnership Ltd acquired a new position in Lineage during the first quarter worth $1,643,000. Finally, Pictet Asset Management Holding SA increased its position in Lineage by 16.7% during the first quarter. Pictet Asset Management Holding SA now owns 9,857 shares of the company's stock worth $323,000 after buying an additional 1,412 shares during the last quarter.

Lineage Price Performance

NASDAQ LINE opened at $40.95 on Friday. The stock has a 50-day simple moving average of $42.68 and a 200 day simple moving average of $38.88. Lineage, Inc. has a twelve month low of $31.33 and a twelve month high of $45.75. The stock has a market capitalization of $9.32 billion, a PE ratio of -66.05 and a beta of 0.85. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.76 and a current ratio of 0.85.

Lineage (NASDAQ:LINE - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.23) by $1.01. Lineage had a negative return on equity of 1.56% and a negative net margin of 2.72%.The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm posted $0.86 EPS. The company's revenue was up .4% on a year-over-year basis. Research analysts anticipate that Lineage, Inc. will post 2.44 EPS for the current year.

Lineage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Tuesday, June 30th were given a dividend of $0.5325 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.13 dividend on an annualized basis and a yield of 5.2%. Lineage's payout ratio is -343.55%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. UBS Group upped their price target on Lineage from $35.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, July 17th. Piper Sandler raised their price objective on Lineage from $35.00 to $46.00 and gave the company a "neutral" rating in a research note on Tuesday. Wells Fargo & Company reduced their target price on Lineage from $39.00 to $36.00 and set an "equal weight" rating for the company in a report on Monday, June 1st. Morgan Stanley upped their target price on Lineage from $39.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 2nd. Finally, Scotiabank reiterated a "sector perform" rating and set a $45.00 price target on shares of Lineage in a report on Thursday, June 18th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $42.94.

Lineage Company Profile

Lineage Logistics, Inc NASDAQ: LINE is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage's core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.

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